Guideline Value for VENKATESAN NAGAR

Venkatesan Nagar guideline value

The current guideline value of Venkatesan Nagar is Rs 400 per sq.ft, effective from the 2024 revision. This area is located in Melavalam village, under the Madurandakam Sub Registrar Office, classified as Mixed Type - I land.

How the guideline value of Venkatesan Nagar has changed

The guideline value for Venkatesan Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision saw a decrease to Rs 268 per sq.ft, but this was followed by a significant increase to Rs 400 per sq.ft in the 2023 revision. The 2024 revision has maintained this value, showing no change from the previous year.

Between the revisions, notable changes include a 49% increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023. However, from 2012 to 2017, there was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 400 per sq.ft.

Guideline values in Melavalam

In Melavalam, there are 20 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 200 to Rs 1,000 per sq.ft. The median value is Rs 350 per sq.ft, placing Venkatesan Nagar's 2024 figure above this median.

• Vb Nagar: Rs 200 per sq.ft (2024)
• VKS BEST CITY PHASE II @ Sakthi Nagar: Rs 405 per sq.ft (2024)
• V.K.S.Group In Best City Extension - I: Rs 405 per sq.ft (2024)
• Vks Realty Inc In Best City: Rs 300 per sq.ft (2024)
• Sri Mari Amman Nagar: Rs 405 per sq.ft (2024)
• Saranya Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Venkatesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Venkatesan Nagar?

The Madurandakam Sub Registrar Office covers Venkatesan Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Melavalam

The guideline value is a critical factor during the registration of property transactions in Melavalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to property sales.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value at which the property can be registered. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Venkatesan Nagar?

The current guideline value of Venkatesan Nagar is Rs 400 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a decrease to Rs 268 per sq.ft in 2017, followed by a return to Rs 400 per sq.ft in 2023 and 2024.

What is the land classification of Venkatesan Nagar?

Venkatesan Nagar is classified as Mixed Type - I land, which indicates the type of development and usage permitted in the area.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Venkatesan Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 at a rate of 7%.